Update on cryptocurrency investments
30/01/2023 07:00
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RNS Number : 1771O NFT Investments PLC 30 January 2023
Press Release
30 January 2023
NFT Investments PLC
("NFT Investments" or "The Company")
Update on cryptocurrency investments
NFT Investments (AQSE: NFT), an investment firm specialising in the market for
non-fungible tokens ("NFTs"), is pleased to provide the following update to
the Company's cryptocurrency investments.
Further to the half-year results announced 26 September 2022, where NFT
Investments disclosed its intention to safeguard its cash reserves until the
adverse market conditions in the digital asset sector had abated, the Company
is pleased to announce that it has deployed US$16.26M into purchasing Bitcoin
(BTC) and Ether (ETH) from November 2022 to early January 2023.
The price of Bitcoin and Ether has increased significantly in the last two
weeks and the US$16.26M deployed has increased to US$22.20M as at 29 January
2023, representing an increase of 37 percent compared with the carrying value.
The Company has an unaudited net asset value of £33.2 million (3.3p per
share) as at 29 January, including £27.8 million in liquid crypto and cash
equivalents. The current share price is now 75% below the company NAV.
Jonathan Bixby, Executive Chairman of NFT Investments, commented: "Our team
successfully anticipated the adverse market trends in the digital asset sector
- the so-called 'Crypto Winter' - and reacted quickly to safeguard the
Company's assets and wait for the bottom of the market. We identified an
opportunity to generate value for our investors by leveraging our considerable
cash reserves in November 2022, and we are delighted by our timing and the
subsequent positioning of our treasury. We are very excited that our balance
sheet is getting stronger and stronger and that we are now over 90% deployed
into a rising market".
For further information please contact:
NFT Investments
Jonathan Bixby via Tancredi +44 207 887 7633
Executive Chairman
First Sentinel
Corporate Adviser +44 7876 888 011
Brian Stockbridge
Tennyson Securities
Corporate Broker +44 207 186 9030
Peter Krens
Tancredi Intelligent Communication
Media Relations
Gabriela Amaya Garcia +44 7915 035 294
Charlie Hobbs +44 7897 557 112
nftinvestments@tancredigroup.com (mailto:nftinvestments@tancredigroup.com)
About NFT Investments:
NFT Investments PLC is an incubator specialising in the market for
non-fungible tokens ("NFTs") and is the first ever NFT vehicle to list in a
major jurisdiction worldwide. The Company invests in a diversified portfolio
of NFTs, cryptocurrency, and/or in companies or funds which have exposure to
NFT or blockchain technology. The Company's leadership team have an extensive
track record in the cryptocurrency sector and previously founded Argo
Blockchain PLC, a global crypto miner. NFT Investments is headquartered in
London, UK and its shares are listed on the Aquis Stock Exchange Growth Market
under the ticker symbol NFT. https://www.nftinvest.pro/
(https://www.nftinvest.pro/)
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